AkelPadDocsView.js
Added: scaling dialog window to DPI of screen.
Changed: "AkelHelp-*.htm" has been moved to the documents list. Internet Explorer window is now embedded in the script dialog.
Changed: option "Run in separate window" does not require a script restart.

Swap 2nd and 3rd arguments.
By the way, I am at Windows XP( not 7), using main Administrator account and getting popping this message.
By the way, for more info you should print oError.message and oError.number. It gives more useful information.
I getting error number 0x800A01CE (-2146827826) "Компьютер удаленного сервера не существует или недоступен"
( In my case I had no running service identified "DcomLaunch" which is require to instantiate COM objects implemented as Local Server )

As for embedding IE into windows application. There is special control for this purpose. Its ProgId "Shell.Explorer.2" Its interface described in the same TypeLib as used by you "InternetExplorer.Application" in %SystemRoot%\system32\shdocvew.dll

KDJ
Yes, "WebBrowser Control" is control I mentioned. "Shell.Explorer.2" is so called ProgId - human-oriented synonym for COM Component which can be used in COM/OLE syscalls . System knows components by its CLSID({xxxxxxxx-....} 128bit value).